Seattle Art Museum: Nonprofit Profile, Financials & Form 990 (EIN 91-0640788)

Revenue by fiscal year
FY2020	$41.6M
FY2021	$33.9M
FY2022	$67.2M
FY2023	$30.0M
FY2024	$38.9M
FY2025	$38.3M

Expenses by fiscal year
FY2020	$37.3M
FY2021	$26.5M
FY2022	$55.5M
FY2023	$37.1M
FY2024	$41.6M
FY2025	$44.4M

Net assets by fiscal year
FY2020	$333.4M
FY2021	$382.6M
FY2022	$369.8M
FY2023	$374.2M
FY2024	$374.2M
FY2025	$378.8M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1934.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

75 cents of each dollar spent went to programs.

75%

18%

Program services 75% · $33.1M Management & general 18% · $7.9M Fundraising 8% · $3.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

74 people listed on the 990; $2.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Jeffrey Draeger

Ill Ball Nordstrom Dir. Thru 08/24

$272,092Pt VII · Sec A

Chris Landman

Chief Development Officer

$271,575Pt VII · Sec A

Jose Diaz

Deputy Director of Art

$245,217Pt VII · Sec A

Cynthia Bolton

Chief Financial Officer

$234,458Pt VII · Sec A

Scott Stulen

Illsley Ball Nordstrom Director

$217,916Pt VII · Sec A

Kimberly Hart

Ill Ball Nordstrom Dir. Thru 08/24

$203,731Pt VII · Sec A

Anita Shah

Chief Operating Officer

$200,692Pt VII · Sec A

Mikhael Mei Williams

Chief Marketing Officer

$185,556Pt VII · Sec A

Jeffrey Draeger’s $272K as Ill Ball Nordstrom Dir. Thru 08/24 is at the 34th percentile of top reported officer pay among 749 $10–100M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Amada Cruz	—	—	$482,771	$449,115	$407,310	$121,164
Kimerly Rorschach	—	—	—	—	—	$404,592
Amada Cruz Harmon	—	$386,299	—	—	—	—
Jeffrey Draeger	$272,092	$205,730	—	—	—	—
Chris Landman	$271,575	$223,250	$210,560	$184,721	$170,459	$179,783
Jose Diaz	$245,217	$215,825	—	—	—	—
Cynthia Bolton	$234,458	—	$211,210	$194,679	$179,203	$185,636
Scott Stulen	$217,916	—	—	—	—	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Operates three public art museums and a sculpture park in Seattle, featuring diverse art exhibitions and educational programs for the general public.

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Provided by the organization

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1 program · $33.1M · in their own filed words · FY2024

01

Museum Services

Providing a public art museum including the accession of art objects as well as public art exhibitions and art education for the general public. Museum patrons visited this year at three different seattle locations - the seattle art museum, the olympic sculpture park and the asian art museum.

$33.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2025

T Rowe Price Program for Charitable Giving INCFY2025$15K

Total grants receivedfrom 1 funder$15K

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$38.3M

Ln 12

Gifts and grantsLn 1h$17.7M

Investment incomeLn 3$11.6M

Fees for servicesLn 2g$5.4M

Money outPt IX

$44.4M

Ln 25

Programscol B$33.1M

Managementcol C$7.9M

Fundraisingcol D$3.4M

Owns and owesPt X

$378.8M

net assets · Ln 32

Cash and savingsLn 1–2$19.3M

Total assetsLn 16$403.5M

LiabilitiesLn 26$24.7M

PeoplePt VI, VII

74

listed · VII A

PaidVII A12

Voting boardVI 1a62

IndependentVI 1b62

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$17.7M

Government grantsLn 1e$1.4M

Noncash giftsLn 1g$436K

Fundraising eventsLn 1c$1.3M

Fees for servicesLn 2g$5.4M

Investment incomeLn 3$11.6M

Other incomeLn 4–11$3.7M

Gains on assetsLn 7$8.9M

Total revenueLn 12$38.3M

Assets in detailPt X, end of year

CashLn 1$1.0M

SavingsLn 2$18.3M

Cash and savings togetherLn 1–2$19.3M

InvestmentsLn 11–13$206.2M

Land, buildings, equipmentLn 10c$123.4M

Other assetsLn 15$47.7M

Total assetsLn 16$403.5M

LiabilitiesLn 26$24.7M

Net assetsLn 32$378.8M

OperationsPt I, VI

EmployeesI 5487

VolunteersI 6297

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$22.3M	$19.3M
InvestmentsLn 11–13	$218.3M	$206.2M
Land, buildings, equipmentLn 10c	$83.1M	$123.4M
Total assetsLn 16	$414.0M	$403.5M
LiabilitiesLn 26	$39.8M	$24.7M
Net assetsLn 32	$374.2M	$378.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$1.5M	$624K	$566K	$308K
Other salaries and wagesLn 7	$16.3M	$12.9M	$2.0M	$1.5M
Pension plan contributionsLn 8	−$33K	−$16K	−$11K	−$6K
Other employee benefitsLn 9	$1.5M	$1.2M	$148K	$154K
Payroll taxesLn 10	$1.4M	$1.1M	$203K	$133K
Legal feesLn 11b	$280K	$153K	$126K
Accounting feesLn 11c	$170K		$170K
Lobbying feesLn 11d	$20K		$20K
Professional fundraising feesLn 11e	$384K			$384K
Investment management feesLn 11f	$504K		$504K
Other fees for servicesLn 11g	$3.3M	$2.7M	$323K	$210K
Advertising and promotionLn 12	$936K	$898K	$3K	$35K
Office expensesLn 13	$3.1M	$2.4M	$366K	$355K
Information technologyLn 14	$70K	$710	$69K	$176
OccupancyLn 16	$5.2M	$4.6M	$582K	−$3K
TravelLn 17	$376K	$303K	$4K	$68K
InterestLn 20	$74K		$74K
Depreciation, depletion and amortizationLn 22	$5.8M	$3.2M	$2.6M
InsuranceLn 23	$1.0M	$919K	$119K
Other expenses (24a–d)Ln 24	$2.5M	$2.1M	$64K	$347K
All other expensesLn 24e	$7K	$7K
Total functional expensesLn 25	$44.4M	$33.1M	$7.9M	$3.4M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$38.3M	$44.4M	−$6.1M	$378.8M	990 PDF
FY2024	$38.9M	$41.6M	−$2.7M	$374.2M	990 PDF
FY2023	$30.0M	$37.1M	−$7.2M	$374.2M	990 PDF
FY2022	$67.2M	$55.5M	$11.6M	$369.8M	990 PDF
FY2021	$33.9M	$26.5M	$7.4M	$382.6M	990 PDF
FY2020	$41.6M	$37.3M	$4.3M	$333.4M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (6 parts)

Part I · Summary $38,334,278 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $10,761,125$17,731,309

I-9 Program service revenuePrior year $6,097,696$5,387,496

I-10 Investment incomePrior year $18,557,887$11,564,115

I-11 Other revenuePrior year $3,457,149$3,651,358

I-12 Total revenuePrior year $38,873,857$38,334,278

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $18,749,730$20,708,038

I-16a Professional fundraising feesPrior year $293,358$383,765

I-17 Other expensesPrior year $22,573,261$23,351,440

I-18 Total expensesPrior year $41,616,349$44,443,243

I-19 Revenue less expensesPrior year −$2,742,492−$6,108,965

Part VI · Governance 62 of 62 board members independent, 1 to look at

VI-1a Voting members of the governing body62

VI-1b Independent voting members62

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $38,334,278 across 14 lines filed

Lines not itemized here account for $672,694 of total revenue; see the IRS return.

VIII-1b Membership dues$4,681,011

VIII-1c Fundraising events$1,300,961

VIII-1e Government grants$1,446,344

VIII-1f All other contributions, gifts and grants$10,302,993

VIII-1g Noncash contributions (included above)$435,706

VIII-1h Total contributions, gifts and grants$17,731,309

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,387,496$5,387,496

VIII-3 Investment incomeExcluded from tax $2,634,828$2,634,828

VIII-5 RoyaltiesExcluded from tax $11,177$11,177

VIII-6 Net rental income or lossExcluded from tax $2,743,641$2,743,641

VIII-7 Net gain or loss on sales of assetsExcluded from tax $8,929,287$8,929,287

VIII-8 Net income from fundraising eventsExcluded from tax −$99,286−$99,286

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $62,219 · Excluded from tax $260,913$323,132

VIII-12 Total revenueRelated to mission $5,964,483 · Unrelated business $146,435 · Excluded from tax $14,492,051$38,334,278

Part IX · Statement of functional expenses $44,443,243 across 21 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $624,258 · Management $566,425 · Fundraising $307,546$1,498,229

IX-7 Other salaries and wagesPrograms $12,925,763 · Management $1,954,658 · Fundraising $1,461,524$16,341,945

IX-8 Pension plan contributionsPrograms −$15,856 · Management −$11,299 · Fundraising −$5,986−$33,141

IX-9 Other employee benefitsPrograms $1,153,687 · Management $148,242 · Fundraising $153,562$1,455,491

IX-10 Payroll taxesPrograms $1,109,962 · Management $202,644 · Fundraising $132,908$1,445,514

IX-11b Legal feesPrograms $153,248 · Management $126,442$279,690

IX-11c Accounting feesManagement $170,498$170,498

IX-11d Lobbying feesManagement $20,085$20,085

IX-11e Professional fundraising feesFundraising $383,765$383,765

IX-11f Investment management feesManagement $503,871$503,871

IX-11g Other fees for servicesPrograms $2,720,166 · Management $322,780 · Fundraising $210,344$3,253,290

IX-12 Advertising and promotionPrograms $897,927 · Management $2,642 · Fundraising $35,269$935,838

IX-13 Office expensesPrograms $2,416,739 · Management $365,788 · Fundraising $355,153$3,137,680

IX-14 Information technologyPrograms $710 · Management $69,385 · Fundraising $176$70,271

IX-16 OccupancyPrograms $4,619,414 · Management $581,999 · Fundraising −$2,657$5,198,756

IX-17 TravelPrograms $303,162 · Management $4,005 · Fundraising $68,434$375,601

IX-20 InterestManagement $73,973$73,973

IX-22 Depreciation, depletion and amortizationPrograms $3,238,236 · Management $2,576,256$5,814,492

IX-23 InsurancePrograms $919,380 · Management $119,092$1,038,472

IX-24 Other expenses (24a–d)Programs $2,060,926 · Management $64,271 · Fundraising $347,034$2,472,231

IX-24e All other expensesPrograms $6,692$6,692

IX-25 Total functional expensesPrograms $33,134,414 · Management $7,861,757 · Fundraising $3,447,072$44,443,243

Part X · Balance sheet $403,450,549 assets, 20 lines filed

X-1 Cash, non-interest-bearingStart of year $16,273,036$1,038,850

X-2 Savings and temporary cash investmentsStart of year $6,073,585$18,291,077

X-3 Pledges and grants receivableStart of year $4,994,927$4,904,896

X-4 Accounts receivableStart of year $786,549$175,790

X-8 Inventories for sale or useStart of year $583,514$648,820

X-9 Prepaid expenses and deferred chargesStart of year $1,132,304$1,145,778

X-10c Land, buildings and equipment, netStart of year $83,115,845$123,389,303

X-11 Publicly traded securitiesStart of year $113,255,113$103,470,593

X-12 Other securitiesStart of year $83,523,508$102,680,253

X-13 Program-related investmentsStart of year $21,507,588$0

X-15 Other assetsStart of year $60,730,759$47,705,189

X-16 Total assetsStart of year $414,023,960$403,450,549

X-17 Accounts payable and accrued expensesStart of year $3,659,208$2,352,437

X-19 Deferred revenueStart of year $1,559,884$1,552,651

X-25 Other liabilitiesStart of year $30,459,956$17,094,949

X-26 Total liabilitiesStart of year $39,782,056$24,678,091

X-27 Net assets without donor restrictionsStart of year $144,189,736$140,484,963

X-28 Net assets with donor restrictionsStart of year $230,052,168$238,287,495

X-32 Total net assets or fund balancesStart of year $374,241,904$378,772,458

X-33 Total liabilities and net assetsStart of year $414,023,960$403,450,549

Part XI · Reconciliation of net assets $378,772,458 net assets at year end

XI-1 Total revenue$38,334,278

XI-2 Total expenses$44,443,243

XI-3 Revenue less expenses−$6,108,965

XI-4 Net assets at start of year$374,241,904

XI-5 Net unrealized gains (losses) on investments$6,789,408

XI-9 Other changes in net assets$3,850,111

XI-10 Net assets at end of year$378,772,458

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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